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GCS15

Unless You Ask, The Answer Is Always No.

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http://www.jenman.com.au/NewsNews1.php?id=339

“I hope for my sellers’ sakes the time never comes when I have to rely on one of your offers to sell their properties.”

So said an indignant agent in a terse e-mail to an audacious buyer last week as he responded to what’s known in the industry as a “silly offer”.

After several years of being asked to pay higher and higher prices, after being treated with almost universal disdain – not to mention shedding buckets of tears at the emotional flogging they’ve endured – it’s time for property buyers to get the upper hand.

And many of them are loving it.

With credible reports that property prices are 20 per cent over-valued – and with everyone other than the most ridiculously recalcitrant realtors realising that the boom has become a bust – the only thing to increase in value is the confidence (okay, sometimes, the cheek) of the buyers.

It’s the age-old law of supply and demand. As buyers have decreased in numbers their chance of buying more cheaply has soared.

And just how cheaply can they buy?

Well, it depends how “silly” (or cheeky) they are prepared to be.

If prices really are 20 per cent too high, then asking for a 20 per cent discount seems quite reasonable. Ask for a 30 per cent discount and that might be headed toward the silly level.

But not according to some agents who are getting upset with any buyer who dares challenge them with an offer which sees their commission slipping away. The audacious buyer mentioned earlier offered $420,000 for a home reportedly priced at $450,000 – less than a seven per cent discount.

Well, look out sellers, because the next offer may be even less than $420,000. In fact, some cheeky buyers, when asked to make a better offer are immediately decreasing their original offer instead of increasing it.

They are making an offer that’s better for them as buyers. How silly is that?

It’s not silly at all because many sellers are rejecting offers and then, a few weeks later, having to accept an even lower offer. This is what happens when prices are going down. It’s not silliness, it’s economics.

So, don’t be shy buyers, if you make a silly offer, what’s the worst that can happen?

Well, there’s an old saying, “Until you ask, the answer is always no.”

The silly offer season has arrived; and that means the answer just might be yes.

How silly can you get? One wonders if this fella will sign up a third time?

http://www.jenman.com.au/NewsStories1.php?id=102

ANTIDOTE NEEDED FOR SPRUIKER STING

George Mihos and TNTI claim more victims.

I am writing this after reading the ‘Statement of TNTI victim’.

I feel my partner has also been suckered in as he attended the same seminar and was also unaware that if he stayed past a certain time that he was required to purchase a “package”.

He purchased the cheapest option costing around $3,500.00. He has now been sucked-in again for a shares package costing $7000! This makes me sick to my stomach.

He went to another seminar a few weeks ago and again the same thing – he was persuaded to put his name down for a course. When he told me, I absolutely hit the roof.

I feel that this company preys on people like us. We have the dream of owning our own house and are madly saving. We explained this to them and they just don’t seem to care.

I am terrified of this whole situation, it’s stressing me out and putting a huge strain on our relationship. I have no idea what to do.

I’m hoping you may be able to suggest where to turn.

Edited by GCS15

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as an old pro told me the other day, in this market:

"If you are not embarrassed by your offer, it is too high"

Yes, indeed.

Any offer I make these days, I have to tighten my stomach

muscles and hold a fixed look on my face, such is the embarrassing

audacity of my miniscule offers, this season.

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as an old pro told me the other day, in this market:

"If you are not embarrassed by your offer, it is too high"

Oh i don't know DrBubb, some guy at work last night reakond that you cannot offer under asking price. Aparently the advertised price is the value of the house -and the justification of this genius is "you wouldnt go into tesco's and try and haggle for a can of beans now would you?"

This is from a homeowner who will be trading up next year. Incidently this is a different than the one who told me "house prices will fall significantly but they wont crash"

How much is significantly ? well thats simple about £20K (not a percentage, no mention of the starting price... houses will just fall by £20K) I tried to explain that 20K off a 100K is 20% but i kinda lost him with that one.

I actually get a little bit insulted because i am paid the same as these people.

Im not a violent person but sometimes i could just slap the sh*t out of these type of people.

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"you wouldnt go into tesco's and try and haggle for a can of beans now would you?"

Actually, I regularly do this at the check-out when shopping. You will find that you will get some reduction in small privately owned shops if the choice you give them is between paying with a credit card and paying with cash.

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Few weeks back our neighbours finally completed and exchanged, since moved. After speaking to them, discovered they paid the FULL offer price on there new place. The sellers must of fallen over with delight with this!

It sounded like the EA told them it was reduced and they believed it. In turn there buyers negotiated quite hard for a discount, but could not find out the price/discount as they were a bit coy about this part.

Whats interesting is that anyone not following the market as closely as folks on this forum have no idea whats going on.

Its going to take some time to turn the market around, as the general populace discover all is not well and that there new found 'wealth' is evaporating away quickly, its going to get very interesting.

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Whats interesting is that anyone not following the market as closely as folks on this forum have no idea whats going on.

Seconded.

I have had to "plant the seed" of this idea in my parent's minds recently. I have been trying to avoid having to do this, but to no avail. I've had to come up with a plausible explanation why I don't plan to buy right now.

This was painful! :(

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Interesting. However, I don't feel confident enough to offer 30% less just quite yet!

How little (as a percentage) would you dare offer in general?

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Interesting. However, I don't feel confident enough to offer 30% less just quite yet!

How little (as a percentage) would you dare offer in general?

Offer what you like , there only going to laugh and say no.

Go on , have some fun.

D :)

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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